Gov. Gavin Newsom on April 29 signed legislation that will provide a $6.2 billion tax cut to businesses that received a Paycheck Protection Program loan to pay for employee salaries, group health care benefits, other debt obligations and worker-protection costs related to COVID-19.
The $1.9 trillion COVID-19 relief bill signed March 11 by President Joe Biden provides billions of dollars in relief for individuals, families and small businesses through forgivable low-interest loans, tax credits, emergency grants, extended unemployment benefits and other assistance.
The federal COVID-19 relief package signed into law Dec. 27 provides $900 billion in pandemic aid, including $284 billion in new funding for the Paycheck Protection Program and $20 billion in new funding for the Economic Injury Disaster Grants and Loans Program.
The Dentists Insurance Company on April 24 announced premium refunds to policyholders in 15 states affected by the COVID-19 pandemic that has severely impacted the practice of dentistry. Recognizing that dentists are experiencing a reduction of routine and elective patient care in their practices, TDIC is refunding 50% of Professional Liability premiums for two months.
The Senate and House passed an interim deal this week to replenish funding for the small-business and emergency disaster loans established in March by the Coronavirus Aid, Relief and Economic Security Act. President Trump was expected to swiftly sign the fourth legislative relief package.